Forecast: Surge in Renewable Energy Insurance Demand

• The insurance products created by Leader Team Broker are addressed to investors and financiers of green energy projects, developers and operators of photovoltaic, wind or battery parks, as well as to builders, subcontractors and installers. 

• Leader Team Broker policies are supported by LLOYD’s insurance syndicates, recognized for their financial stability, which allows for personalized solutions and access to global reinsurance, as well as project management not only in Romania, but also in other EU countries. 

• The broker has created a unique service on the Romanian market, namely it builds and manages insurance programs directly for subcontractors, with the aim of to protect the real interests of the main beneficiaries.

Bucharest, July 30, 2025. Leader Team Broker, a key player in the niche corporate insurance market in Romania and Europe, anticipates an accelerated growth in demand for insurance dedicated to renewable energy projects, as well as an increase in insurance premiums related to these policies, after, in the last three years, requests for insurance policies for solar and wind farms on the local market increased by over 60%. The company estimates that this trend will continue in the medium and long term, as a result of massive investments in the energy transition and the increasingly strict requirements imposed by financiers and regulators.

“The future of these insurance packages is closely linked to the evolution of renewable energy investments and the increasingly complex requirements imposed by international financiers, authorities or developers. In Romania, we are observing a maturing of the market and an increasingly heightened awareness of the risks involved. In recent years, we have already observed an accelerated growth in interest in specialized insurance in the renewable energy sector and we expect these policies to become a mandatory and strategic component in any sustainable project. Against the backdrop of the green transition and European regulations, developers and financiers are increasingly aware of the importance of a well-structured insurance program. In addition, banks and investors are increasingly imposing strict requirements regarding minimum coverages in order to approve project financing. Leader Team Broker positions itself as the ideal partner in this transition thanks to its unique expertise in the field. We are the only broker in Romania that offers a complete service for structuring insurance programs for subcontractors, precisely to protect the interests of the main beneficiaries. We also have a dedicated claims department, which includes a risk engineer, which allows us to efficiently manage risks and assist clients in critical situations. With Leader Team Broker, clients do not just receive a policy, but a trusted partner who understands the specifics of the industry and offers real, applicable solutions aligned with the requirements of the global market,” said Alexandra Elena Durbaca, CEO of Leader Team Broker Insurance.

Although there is still no official centralized statistics only for renewable sector insurance in Romania, estimates by Leader Team Broker experts show a growing market, with premiums of tens of millions of euros annually. In the last three years alone, the demand for policies for solar and wind farms has increased by over 60%, and the value of claims paid has increased significantly, especially due to increasingly frequent weather incidents (storms, hail) or technical failures. In some cases, the compensation has exceeded 500,000 euros/project and even reached millions of euros.

Globally, the renewable energy insurance market has recorded strong growth in recent years, expected to reach over 19 billion dollars in 2025, from 17.97 billion dollars in 2024, with a compound annual growth rate (CAGR) of 5.9%. And estimates for the coming years are of solid growth, reaching a value of $23.74 billion in 2029. This expansion is driven by the acceleration of the transition to renewable sources, global efforts to combat climate change, increasing market demand, changes in energy policies and diversification of insurance products. At the same time, among the major trends that will shape the market are technological innovations, advanced risk management tools, advances in data analytics, integration of climate risk models and an improved customer experience.

Insurance for renewable energy investments ends at the financing stage

A well-constructed insurance brings financial protection, contractual stability and trust in front of partners and financiers. The request should be made as early as the financing stage, because the design and budgeting of a correct insurance program must be aligned with all parties involved. In addition, a fully planned insurance program in advance helps to obtain financing and authorization faster. Financial institutions frequently require the existence of a solid insurance program for lending, because it offers protection over assets and cash flows, reducing the risk of default.

Thus, starting from the growing and more varied demand for this type of policy, Leader Team Broker, a brokerage company with over 19 years of experience on the local and European market, has developed, together with its local and international partners at LLOYS’s of London, a complete range of insurance solutions specifically adapted to the renewable energy industry. These include construction-assembly insurance (CAR/EAR), insurance for technical equipment and installations, general and professional liability insurance, insurance for energy storage systems (BESS), operational risk insurance (O&M) or guarantee insurance (Bonds).

The insurance products created by Leader Team Broker are aimed at investors and financiers of green energy projects, developers and operators of photovoltaic, wind or biomass parks, equipment manufacturers (inverters, turbines, panels, etc.), builders, subcontractors and installers or companies operating storage systems (BESS). The risks most frequently covered by these policies are extreme weather events (storms, hail, floods, heavy snow), earthquakes, vandalism and theft, design or execution errors, business interruptions and loss of profit or alteration of material assets during transport, handling and installation. Insurance packages may also contain clauses for acts of terrorism or indirect financial losses.

Cyber Risk Insurance Becomes Mandatory for Energy Companies, in the Context of the NIS 2 Directive

At the same time, an important component of these insurance packages is the Cyber Risk Policy for the protection of IT infrastructure. In the context of the new NIS 2 Directive, which imposes strict cyber resilience standards for companies in critical infrastructure, including renewable energy, a Cyber Risk policy becomes not only useful, but essential for compliance and operational continuity. A well-structured Cyber policy offers complex coverage, adapted to the realities of the energy sector, such as cybersecurity incidents, attacks on critical infrastructure, business interruption, third party liability, support for restoring reputation or for fulfilling legal obligations imposed by regulations such as GDPR and NIS 2, including coverage of administrative fines.

“At Leader Team Broker, we understand the complexity of the energy industry and European regulations, offering customized insurance solutions, compliant with legislative requirements, including those imposed by the NIS 2 Directive. We collaborate with a wide portfolio of international and local insurers – such as LLOYD’s of London, Dual, AXA, Swiss Re, Uniqa, Colonnade and Generali – as well as with niche energy specialists. Our policies are backed by LLOYD’s insurance syndicates, recognized for their financial strength, which allows us to provide customized solutions and access to global reinsurance capabilities. We have the expertise and resources necessary to manage projects both in Romania and in the other member states of the European Union, maintaining the same high standard of quality and professionalism. Thanks to our extensive network and international partnerships, we offer coverage compliant with local legislation, adapted to the requirements of each jurisdiction. We work with local specialists who know in detail the particularities of each market and collaborate directly with beneficiaries – banks, energy investment funds, developers and subcontractors (EPC) involved in renewable energy projects – to build complete, competitive and sustainable insurance programs,” explained Alexandra Elena Durbaca.

Leader Team Broker has created a unique service on the Romanian market

A key aspect, increasingly common in renewable energy projects in Europe, is the inadequate quality of insurance policies issued by subcontractors – a major, often underestimated risk that can directly affect the financial security of the beneficiaries and the success of the entire project. In several recent projects, both in the solar and wind sectors, situations have been identified in which the beneficiary was correctly listed in the documentation, but the policies provided by the subcontractors were either poorly structured or lacking essential coverage. These deficiencies can generate significant legal and financial vulnerabilities, in the event of damages or litigation. It is essential that developers, investors and financing banks pay increased attention to the structure and content of subcontractors’ policies, ensuring that they comply with the project requirements and offer real protection for all parties involved.

To prevent such risks, Leader Team Broker has created a unique service on the Romanian market, which addresses beneficiaries, namely the company builds and manages insurance programs directly for subcontractors (EPC), with the aim of protecting the interests of all parties involved but also of the beneficiary in an efficient and complete manner. This service involves reviewing contractual requirements, eliminating potential coverage gaps and ensuring compliance with group policies. Thus, Leader Team Broker ensures the entire process, from risk analysis and correct structuring of coverage, to issuing compliant policies, recognized by investors, financiers and authorities.

“Leader Team Broker differentiates itself in this market precisely through its specialization in the energy sector and direct access to international niche products, including LLOYD’s capabilities. The combination of technical expertise and detailed knowledge of the international insurance market allows Leader Team to propose personalized solutions, compliant with the requirements of investors, banks and authorities, but especially to intervene efficiently at the most critical moment: when a claim occurs. Insurance is not just a formality, and in a sector such as renewable energy, it can make the difference between a solid project and a vulnerable one”, said the CEO of Leader Team Broker.

The price of an insurance package for renewable energy projects is influenced by several factors, including the total value of the investment, the type of equipment used, the project location, the claim history, the technology implemented, the experience of the construction teams, but also the weather conditions specific to the area. In the case of a wind or photovoltaic park, the CAR insurance premium is calculated as a percentage of the insured value (usually between 0.1% and 3%), but may vary depending on the insurer chosen, the perceived risk, the policy clauses and contractual requirements.

About Leader Team Insurance Broker:

Leader Team Broker is one of the most highly regarded corporate insurance brokers in Romania and Europe, with over 19 years of experience in risk consulting and insurance solutions dedicated to companies. Recognized as one of the best corporate insurance brokers, Leader Team offers customized solutions for small, medium and large companies, adapted to the specific needs of each field of activity. With a specialized product portfolio and an innovation-focused approach, the company is recognized as one of the most agile and innovative players on the brokerage market, with unique solutions developed for industries such as IT, renewable energy, aviation, healthcare, cybersecurity, automotive, marketing and HR.

Leader Team Broker was named “Insurance Broker of the Year” by the British publication Corporate LiveWire for three consecutive years (2021, 2022, 2023), due to the creativity and adaptability demonstrated in developing innovative products for emerging industries. The company was also included by the London-based publication Treat Technologies in the top 20 global providers of cybersecurity insurance solutions, alongside other international industry leaders.

In 2020, Leader Team received the distinctions of “Insurance Broker of the Year” from Piata Financiara and “Cybersecurity Insurance of the Year” from Financial Intelligence. The company also stood out by adopting modern technology to automate operations, being awarded for “Innovation and Digitalization” and “e-Risk” at the 2020 e-Finance Gala.

Details on https://leaderteam.ro/

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